Published 1 year ago

Credit Suisse posts massive annual loss as 'radical' restructure gets underway

Summary by Ground News

Credit Suisse on Thursday reported a fourth-quarter net loss of 1.4 billion Swiss francs ($1.51 billion), as it continues with its huge strategic overhaul. Credit Suisse has been particularly hard hit by its $5.5 billion loss on U.S. investment firm Archegos.

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Times of India

Credit Suisse: Credit Suisse logs worst annual loss since global financial crisis

International Business News: Switzerland's second biggest bank posted a net loss in the fourth quarter of 1.39 billion Swiss francs ($1.51 billion), in line with an analyst consen

1 year ago·India

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The Guardian

Credit Suisse axes top bosses’ bonuses after biggest loss since financial crisis

Swiss bank is cutting 9,000 jobs in restructuring programme after series of scandals

1 year ago·London, United Kingdom

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CTV News

Credit Suisse posts US$1.4B pre-tax loss as woes go on in 4Q

Credit Suisse on Thursday reported a pre-tax loss of more than 1.3 billion Swiss francs (about US$1.4 billion) in the fourth quarter of last year, as its new managers vie to right the top-drawer Swiss bank that has faced a string of setbacks in recent years.

1 year ago·Canada

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Reuters

Credit Suisse warns of more losses after sliding deep into the red

Credit Suisse Group has reported its biggest annual loss since the 2008 global financial crisis after rattled clients pulled billions from the bank, and it warned that a further "substantial" loss would come this year.

1 year ago·United Kingdom

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Associated Press News

Credit Suisse posts $1.4B pre-tax loss as woes go on in 4Q

Credit Suisse has reported a pre-tax loss of more than 1.3 billion Swiss francs, or about $1.4 billion, in the fourth quarter of last year. The results Thursday come as new managers vie to right the top-drawer Swiss bank that…

1 year ago·United States

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